EARN.TO vs. CARS.TO

Last updated Jul 25, 2026

EARN.TO (Evolve Active Global Fixed Income Fund) and CARS.TO (Evolve Automobile Innovation Index Fund - Hedged Units) are both exchange-traded funds - EARN.TO is a Global Corporate Bonds fund actively managed by Evolve Funds Group Inc., while CARS.TO is a Consumer Discretionary Equities fund tracking the Solactive Future Cars Index Canadian Dollar Hedged. EARN.TO is actively managed, while CARS.TO is passively managed. Over the past 5 years, EARN.TO returned 2.47%/yr vs -10.56%/yr for CARS.TO. At a 0.04 correlation, their price movements are largely independent.

Performance

EARN.TO vs. CARS.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Evolve Active Global Fixed Income Fund (EARN.TO) and Evolve Automobile Innovation Index Fund - Hedged Units (CARS.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EARN.TO achieves a -1.84% return, which is significantly lower than CARS.TO's 3.49% return.

EARN.TO

• 1D: -0.33%
• 1M: -0.44%
• 6M: -1.08%
• YTD: -1.84%
• 1Y: 1.35%
• 3Y*: 4.66%
• 5Y*: 2.47%
• 10Y*: —
• ALL TIME*: 2.61%

CARS.TO

• 1D: -4.86%
• 1M: -18.39%
• 6M: -5.74%
• YTD: 3.49%
• 1Y: 13.99%
• 3Y*: -2.60%
• 5Y*: -10.56%
• 10Y*: —
• ALL TIME*: 4.00%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CARS.TO Evolve Automobile Innovation Index Fund - Hedged Units	CA$74.52K	CA$52.07K	CA$48.98K
EARN.TO Evolve Active Global Fixed Income Fund	CA$3.29K	CA$5.70K	CA$6.26K

EARN.TO vs. CARS.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
EARN.TO Evolve Active Global Fixed Income Fund	-1.84%	4.52%	6.66%	7.74%	-3.86%	0.88%	0.87%	6.88%	-1.14%
CARS.TO Evolve Automobile Innovation Index Fund - Hedged Units	3.49%	25.71%	-11.53%	-5.42%	-49.72%	4.23%	97.73%	52.28%	-12.60%

Correlation

The correlation between EARN.TO and CARS.TO is 0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.00
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (All Time) Calculated using the full available price history since Nov 14, 2018	0.04

Return for Risk

EARN.TO vs. CARS.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EARN.TO

EARN.TO Risk / Return Rank: 20
EARN.TO Sharpe Ratio Rank: 21
EARN.TO Sortino Ratio Rank: 19
EARN.TO Omega Ratio Rank: 20
EARN.TO Calmar Ratio Rank: 20
EARN.TO Martin Ratio Rank: 20

CARS.TO

CARS.TO Risk / Return Rank: 21
CARS.TO Sharpe Ratio Rank: 20
CARS.TO Sortino Ratio Rank: 21
CARS.TO Omega Ratio Rank: 22
CARS.TO Calmar Ratio Rank: 20
CARS.TO Martin Ratio Rank: 20

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EARN.TO vs. CARS.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Evolve Active Global Fixed Income Fund (EARN.TO) and Evolve Automobile Innovation Index Fund - Hedged Units (CARS.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	EARN.TO	CARS.TO	Difference
Sharpe ratio: Return per unit of total volatility	0.43	0.37	+0.06
Sortino ratio: Return per unit of downside risk	0.62	0.76	-0.14
Omega ratio: Gain probability vs. loss probability	1.08	1.10	-0.02
Calmar ratio: Return relative to maximum drawdown	0.48	0.46	+0.02
Martin ratio: Return relative to average drawdown	1.16	1.16	0.00

EARN.TO vs. CARS.TO - Sharpe Ratio Comparison

The current EARN.TO Sharpe Ratio is 0.43, which is comparable to the CARS.TO Sharpe Ratio of 0.37. The chart below compares the historical Sharpe Ratios of EARN.TO and CARS.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EARN.TO vs. CARS.TO - Drawdown Comparison

The maximum EARN.TO drawdown since its inception was -15.52%, smaller than the maximum CARS.TO drawdown of -74.55%. Use the drawdown chart below to compare losses from any high point for EARN.TO and CARS.TO.

Drawdown Indicators

	EARN.TO	CARS.TO	Difference
Max Drawdown Largest peak-to-trough decline	-15.52%	-74.55%	+59.03%
Max Drawdown (1Y) Largest decline over 1 year	-2.81%	-30.57%	+27.76%
Max Drawdown (3Y) Largest decline over 3 years	-2.81%	-50.98%	+48.17%
Max Drawdown (5Y) Largest decline over 5 years	-7.96%	-73.61%	+65.65%
Current Drawdown Current decline from peak	-1.84%	-54.84%	+53.00%
Average Drawdown Average peak-to-trough decline	-1.65%	-34.08%	+32.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	12.14%	-10.97%

Volatility

EARN.TO vs. CARS.TO - Volatility Comparison

The current volatility for Evolve Active Global Fixed Income Fund (EARN.TO) is 0.69%, while Evolve Automobile Innovation Index Fund - Hedged Units (CARS.TO) has a volatility of 14.63%. This indicates that EARN.TO experiences smaller price fluctuations and is considered to be less risky than CARS.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EARN.TO	CARS.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.69%	14.63%	-13.94%
Volatility (6M) Calculated over the trailing 6-month period	2.10%	30.66%	-28.56%
Volatility (1Y) Calculated over the trailing 1-year period	3.14%	37.56%	-34.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.76%	36.29%	-32.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.66%	34.32%	-29.66%

Dividends

EARN.TO vs. CARS.TO - Dividend Comparison

EARN.TO's dividend yield for the trailing twelve months is around 3.88%, more than CARS.TO's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CARS.TO Evolve Automobile Innovation Index Fund - Hedged Units	1.00%	0.85%	1.35%	1.01%	0.95%	0.44%	0.27%	0.53%	1.79%	0.45%
EARN.TO Evolve Active Global Fixed Income Fund	3.88%	3.61%	3.51%	3.14%	3.28%	3.05%	2.99%	2.68%	0.27%	0.00%

Frequently Asked Questions

Can I hold both EARN.TO and CARS.TO in my portfolio?

EARN.TO and CARS.TO have a correlation of 0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

What is the main difference between EARN.TO and CARS.TO?

EARN.TO is categorized as Global Corporate Bonds, while CARS.TO is Consumer Discretionary Equities.